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wed.2.jan.2013
Advertising
partners
THE battle for control of local soda
ash manufacturer Penrice is filling
up shareholders’ mailboxes as the
contenders for board positions pitch
their wares.
Chairman David Trebeck’s group
added more paper to the pile when
it had to correct a recommendation
to the extraordinary general meeting
scheduled for January 25.
The meeting was triggered when
Penrice became the first Australian
company to have its remuneration
report voted down for a second time at
this year’s annual meeting.
New corporate laws meant the
company was then forced into an EGM.
Trebeck and non-executive director
and Defence SA chief executive
Andrew Fletcher’s board positions are
up for grabs.
Director John Hirst’s bid for re-
election was also voted down at the
annual meeting.
On New Year’s Eve, Penrice wrote to
shareholders advising that “the proxy
form sent to all shareholders ahead
of the General Meeting on 25 January
2013 contains an error”.
“The form sent states: ‘the Chairman of
the Meeting intends to vote undirected
proxies in favour of all items of
business’,” the Penrice letter said.
“The form should state: ‘the Chairman
of the Meeting intends to vote
undirected proxies in... READ MORE
Penrice battle heats up
THE contraction in manufacturing continued for a tenth
consecutive month in December, latest figures show.
The Australian Industry Group (AiG) Australian
Performance of Manufacturing Index (PMI) was unchanged
at 44.3 in December (readings below 50 indicate a
contraction in activity with the distance from 50 indicative
of the strength of the decrease).
“ The PMI continues to reflect the influences of weak global
demand and a softening Australian... READ MORE
TELCOS have some good news to start 2013: a record-
breaking 223 million text messages were sent across
Australia as the nation marked the start of a new year.
Major telcos reported that their networks held up well under
surging demand for text messaging and social media sites
during new year celebrations, with just before midnight to
1am on January 1 the peak time for mobile phone use.
Telstra estimated 61 million text messages were sent across
its network over the new year period - a 17 per... READ MORE
Construction decline continues
Text boom rings in 2013
Partners
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NEWSPAPER circulation has continued
to decline, latest figures show.
The decline reflects fragile consumer
confidence and the tough retail
environment, claims the industry body
established to promote newspapers,
Newspaper Works.
The figures follows research released
this week showing varying levels of
take-up of digital platforms.
Monday to Saturday sales of national,
metropolitan and regional printed
newspapers dipped by... READ MORE
Paper sales and revenue in decline
HOLDEN will import a station wagon version of its
Cruze model to Australia in the next year.
A Chevrolet-badged version of the Cruze wagon will
go on display at a motor show in Geneva next month,
the company announced last night.
Cruze sedan and hatch models are... READ MORE
LINKEDIN is reporting a strong fourth quarter as the
online professional networking service added 14 million
members. Its net income and revenue beat Wall Street’s
expectations.
The results announced this morning provided further
evidence of online networking’s... READ MORE
Cruze wagon to be imported
Online networking pays dividends
Unwanted freebies: Sunday Mail giveaways at Bunnings late
on a Sunday afternoon.
BAKER YOUNG STOCKBROKERS | 08 8236 8888
Sponsored by
mon.13.feb.2012
Kevin Naughton
The embattled Penrice faces another test in early
2013.
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